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Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory FIFO (Periodic) Beginning Inventory Purchases Complete this question by entering your answers in the tabs below. Units 59 295 (100) 254 Required: . Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. . Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. Cost per Unit Units < Required A $ GA $ Unit Cost $ 10 13 EA $ EA Total 0 Unit Selling Price 0 0 $ 15 Required B >

Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory FIFO (Periodic) Beginning Inventory Purchases Complete this question by entering your answers in the tabs below. Units 59 295 (100) 254 Required: . Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. . Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. Cost per Unit Units < Required A $ GA $ Unit Cost $ 10 13 EA $ EA Total 0 Unit Selling Price 0 0 $ 15 Required B >

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 44E: Perpetual and Periodic Inventory Systems Below is a list of inventory systems options. a. Perpetual...
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Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Required A Sold Ending Inventory Complete this question by entering your answers in the tabs below. Required B FIFO (Periodic) Beginning Inventory Purchases Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Units 59 295 (100) 254 July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. Cost per Unit Units < Required A Unit Cost $ 10 13 $ $ $ Total 0 Unit Selling Price 0 0 $ 15 Required B >
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Required A Sold Ending Inventory Complete this question by entering your answers in the tabs below. Required B FIFO (Periodic) Beginning Inventory Purchases Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Units 59 295 (100) 254 July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. Cost per Unit Units < Required A Unit Cost $ 10 13 $ $ $ Total 0 Unit Selling Price 0 0 $ 15 Required B >
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